China Last Night KraneShares Week in Review Asian equities traded largely lower this week on currency weakness, slowing GDP growth, and short selling in Hong Kong. On Monday, the People’s Bank of China (PBOC), China’s central bank, unexpectedly announced a cut to the medium-term lending facility, lowering the key lending rate to 2.75% from 2.85%…
China Last Night KraneShares Tencent Q2 Earnings Overview Tencent reported mixed results amid low expectations. Remember that the year-over-year (YoY) figures are all negative, but that was expected and baked into the current share price. Management did a reasonable job cutting costs. During the conference call, when asked about China’s internet regulation, management stated that…
China Last Night KraneShares Week in Review Asian equities were largely higher this week as China released better-than-expected trade data, indicating that the global economy could be recovering somewhat from supply chain distress and inflationary pressure. China’s National Passenger Car Information Exchange Association announced that China auto sales increased +41% year-over-year in July. On Wednesday,…
Key News Asian equities were largely higher on light volumes. Japan and Hong Kong were off slightly while India (Moharram), Pakistan (Ashura), and Singapore (National Day) were closed for the holiday. Tomorrow we have the highly anticipated July CPI print. I am referencing China’s CPI, which is expected to be 2.9% (tongue in cheek). As…
China Last Night KraneShares Week in Review Asian equities ended a volatile week mostly higher as China released mixed economic data showing that the services economy expanded above expectations while manufacturing may have slowed. House Speaker Nancy Pelosi’s visit to Taiwan on Tuesday was not as impactful as some had feared, and markets responded accordingly,…
China Last Night KraneShares Alibaba Q2 Earnings Overview Alibaba beat on the big three numbers investors and analysts care about: Revenue, Adjusted Net Income, and Adjusted EPS. YES, year over year, these numbers are down on percentage, BUT we knew this! Zero covid/lives first policy has had a material effect on consumption in China as…
Skyscrapers light up Singapore’s night sky. DEA / M. BORCHI/De Agostini via Getty Images Chinese e-commerce giant Alibaba in partnership with Perennial Holdings—which counts Singapore billionaires Kuok Khoon Hong and Ron Sim among its major shareholders—have won government approval to build the tallest skyscraper in the Lion City, one of the hottest office markets in…
China Last Night KraneShares Key News Asian equities had a positive start to the week except for Taiwan, which was off a touch. Mainland China media is reporting Nancy Pelosi is likely to visit Taiwan tomorrow, though this has not been confirmed. Over the weekend, China released PMI data that was lower than expected. The…
China Last Night KraneShares Week in Review Asian equities had a mixed but mostly higher week as markets digested the Fed’s rate cut of 75 basis points, as expected, on Wednesday and a bailout fund for China real estate developers, which had a volatile week in the equity market. Alibaba announced Tuesday that its board…
Key News Asian equities were mostly higher overnight except for Hong Kong and Taiwan. Biden and China’s President Xi are scheduled to meet sometime in the next few days. The two leaders are apt to focus on areas of potential cooperation, according to analysts. Biden would like to ensure that lines of communication with Beijing…